Climate Investor 2 nears 70% of final goal at first close

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Climate Investor 2 (or CI2), a financing facility managed by Climate Fund Managers, has held its first close, raising almost 70% of its final close target from a mix of development-minded institutions and commercial investors. Between them, CI2’s first close backers are investing a total of $675 million in the blended finance facility which is aiming to raise $1 billion by the time it holds its final close.

CI2’s blended finance structure simplifies capital deployment and reduces transaction complexity by providing a single financing source for each project’s development, construction, and operational phases. The facility is made up of two funds – the CI2 Development Fund and the CI2 Construction Equity Fund – with the former providing early-stage development services and financing to projects, and the latter investing the equity finance needed to accelerate the construction of the projects backed by CI2.

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